part 1.income statement

Question 1

sales
cost of goods sold
\_\_\_\_\_\_\_\_\_\_\_\_
gross profit
operating expenses (selling, general and administrative expenses)
\+/- other income or expenses (operating income or expenses)
\_\_\_\_\_\_\_\_\_\_\_\_\_
income from continued operations before tax
income tax 
\_\_\_\_\_\_\_\_\_\_
income from continued operations
\+/- discontinued operations (net of tax)
\+/- extraordinary items (net of tax)
\_\_\_\_\_\_\_\_\_\_
net income

Answer 1

income statement

Question 2

items not shown on income statement

Answer 2

prior year adjustments
foreign currency translation adjustments
unrealized gains and losses on available for sale securities
unrealized pension items
cumulative effect of changes in accounting principles
unrealized gains and losses on cash flows hedges

Question 3

unusual or infrequent are reported

Answer 3

as a component of income from continued operations

Question 4

unusual and infrequent are reported

Answer 4

as extraordinary item net of tax